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and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic workers. manufacturing jobs are amongst the best, especially those without a college degree. high wages, good tendency, compared especially to other work in the economy. >> great, thanks. bruce, you work in washington d.c. at dupont. >> i mostly on a plane though. >> i'm just going to say -- in washington d.c., industrial policy is a dirty word, but if you go many other domestic way, while managing a city that practice is something that looks to me like industrial policy. they're picking and winners and losers in giving tax credits to specific companies and trying to build clusters. what's the best wa
and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic...
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the first of less than $1 trillion annual deficits continue to shrink when they begin increasing deficits but in the next 10 years they will add almost $7 trillion to the national debt and 76 trillion by 20203. the national debt compared to the economy stabilizes and climbs much higher in the future. the director of the cbo says the primary culprit is health care spending. >> we still see substantial growth of health care spending over the 10 years and beyond. because of the number of people who will be eligible for medicare will be rising sharply. gerri: they expect gdp to rise this year and next year an average of 3.6% after that and then slowing. cbo expects unemployment average 8% this year and seven points six% next year that is the first time that has happened in 70 years. with the recent tax increases and spending cuts the cbo says it will cost 1.2 5% percentage points of gdp but with deficits reduce it boost growth and employment in the future. gerri: while the cbo war and gas the president tried to put the squeeze on congress to pass small spending cuts and pass more tax hikes. w
the first of less than $1 trillion annual deficits continue to shrink when they begin increasing deficits but in the next 10 years they will add almost $7 trillion to the national debt and 76 trillion by 20203. the national debt compared to the economy stabilizes and climbs much higher in the future. the director of the cbo says the primary culprit is health care spending. >> we still see substantial growth of health care spending over the 10 years and beyond. because of the number of...
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annual deficit deficit continueo shrink until 2017 when interest in health care costs increase deficits. in the next 10 years the u.s. will add almost $7 trillion to the national debt and totaled $26 trillion by 2023. while the national debt compared to the size of the economy stabilizes over the next decade, climbs much higher in the future. the director says the primary culprit, health care spending. >> we still see substantial growth in federal health care spending over the coming 10 years and beyond. that is importantly because the number of people who will be eligible for medicare will be rising very sharply. >> as the economic forecast, expecting gdp to expand 1.4% this year, 3.4% next year, average 3.6% to four years after that and slowing beyond there. expecting unemployment to average 8% this year and 7.6% next year, marking six straight years above $0.7.5, first time that has happened in 70 years. the recent tax increases and spending cuts on the economy, the office says they will cost one and a quarter percentage point to gdp and one half to 2 million jobs this year though wi
annual deficit deficit continueo shrink until 2017 when interest in health care costs increase deficits. in the next 10 years the u.s. will add almost $7 trillion to the national debt and totaled $26 trillion by 2023. while the national debt compared to the size of the economy stabilizes over the next decade, climbs much higher in the future. the director says the primary culprit, health care spending. >> we still see substantial growth in federal health care spending over the coming 10...
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Feb 6, 2013
02/13
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so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the way he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the honor, but i'm only a chairman today. the gentleman is recognized. mr. hoyer: we wish you the best for the future. the chair: thank you. mr. van hollen, may i ask for how long he was recognized? mr. van hollen: i yield four minutes. the chair: the gentleman from maryland is recognized. mr. hoyer: i thank the gentleman for yielding. mr. price of georgia said what the american people want. what the american people don't want is games. this is a game. this is a sham. this is a shame. what the american people want is honest legisl
so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the way he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the...
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Feb 5, 2013
02/13
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change in deficits on the alternative fiscal scenario. it's on the right income on page 33 just above the memorandum lines. and you can see on the far right side that that set of policies would add $2.088 trillion of deficits over the decade, it would be about $450 billion of debt service, so the deficit as hell would be about two and a half trillion dollars more. -- then we shall in the basement of the alternative scenario includes all of the pieces essentially of our previous alternative scenario that have not now been enacted in law or allowed to expire. so it includes the effect of this tax provisions are still scheduled to expire. it includes the effect of the sequestered, and it includes the effects of medicare payments to physicians. >> [inaudible] >> so i don't think there's a simple answer to the question about why more revenue will be collected. our income tax system left to its own devices will generally show over time and larger share of income being collected, impacts, because it would sometimes known as real bracket increase
change in deficits on the alternative fiscal scenario. it's on the right income on page 33 just above the memorandum lines. and you can see on the far right side that that set of policies would add $2.088 trillion of deficits over the decade, it would be about $450 billion of debt service, so the deficit as hell would be about two and a half trillion dollars more. -- then we shall in the basement of the alternative scenario includes all of the pieces essentially of our previous alternative...
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Feb 6, 2013
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our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and on middle income families. creating money out of thin air to fund the president's spending must stop. the first step is to stop the reckless spending by having the president present a plan to balance the budget. this is a simple request with no reasonable excuse for opposition. i support h.r. 444, the require plan act, to protect our seniors, the poor, and middle income families. i yield back. the chair: the gentleman yields back. the gentleman from maryland is recognized. mr. van hollen: madam chairman, again we have heard a number of the
our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and...
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between deficit and debt the deficit of course is the annual budget deficit of the government and the national debt is built up over decades who knows how long it's been building up and how big it is here it's close to one point four trillion pounds but david cameron tells porkies about britain's national debt david cameron on i.t.v. said this quote though this government has had to make difficult decisions we're making progress we're paying down britain's debt and now we're going to cut to a party political broadcast where he's telling these porkies he's confusing the british population between deficit and debt but i know people don't just want to hear. they want to know the facts that's why we're letting people know exactly what this government's sheaves so far. i would say the deficit is going down maybe by one point five percent to thirty three percent of your spirit or i would say our side going to probably bartered it's gone down but i'm afraid there's a. good place but it was pretty good going i think that the dumb well yes so the spectator referring to this political broadcast
between deficit and debt the deficit of course is the annual budget deficit of the government and the national debt is built up over decades who knows how long it's been building up and how big it is here it's close to one point four trillion pounds but david cameron tells porkies about britain's national debt david cameron on i.t.v. said this quote though this government has had to make difficult decisions we're making progress we're paying down britain's debt and now we're going to cut to a...
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between deficit and debt the deficit of course is the annual budget deficit of the government and the national debt is built up over decades who knows how long it's been building up and how big it is it here is close to one point four trillion pounds but david cameron tells porkies about britain's national debt david cameron on i.t.v. said this quote though this government has had to make difficult decisions we're making progress we're paying down britain's debt and now we're going to cut to a party political broadcast where he's telling these porkies he's confusing the british population between deficit and debt but i know people don't just want to hear. they want to know the facts that's why we're letting people know exactly what this go much cheaper so far. i would say the deficit is going maybe by one point five percent to three percent three percent of your skills are right i would say on the side on the public part it's gone down but i'm afraid that i am with. this group but i think that's pretty good going i think that the dumb well yes so the spectator referring to this politi
between deficit and debt the deficit of course is the annual budget deficit of the government and the national debt is built up over decades who knows how long it's been building up and how big it is it here is close to one point four trillion pounds but david cameron tells porkies about britain's national debt david cameron on i.t.v. said this quote though this government has had to make difficult decisions we're making progress we're paying down britain's debt and now we're going to cut to a...
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dollars is going to every single year has nothing to do with our deficit or should be taught no no no no and in fact i thought you were spot on when you were saying earlier you know about the fact that the if that the effect that the defense spending has on the economy obviously you know we have to look at it obviously there are things that can be cut but the idea that we don't meet the capability to protect ourselves and to protect our friends is absurd and remember too and i know you want to make another point the most expensive thing is peace. who are irreplaceable you take a sergeant who's been in for fifteen twenty years or you take a navy seal or any of these people that we've trained and they're ready to go you can't replace them the way you can replace a tank and they're probably fifty sixty percent of our defense budget i would say that the best thing to do is not put them in a situation where we're going to have to replace them james. i think this is you know i wasn't expecting to agree with neal but i think you know we're good friends yeah you know we need to spend smarter
dollars is going to every single year has nothing to do with our deficit or should be taught no no no no and in fact i thought you were spot on when you were saying earlier you know about the fact that the if that the effect that the defense spending has on the economy obviously you know we have to look at it obviously there are things that can be cut but the idea that we don't meet the capability to protect ourselves and to protect our friends is absurd and remember too and i know you want to...
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between deficit and debt the deficit of course is the annual budget deficit of the government and the national debt is built up over decades who knows how long it's been building up and how big it is here it's close to one point four trillion pounds but david cameron tells porkies about britain's national debt david cameron on i.t.v. said this quote though this government has had to make difficult decisions we're making progress we're paying down britain's debt and now we're going to cut to a party political broadcast where he's telling these porkies he's confusing the british population between deficit and debt but i don't people don't just want to hear. they want to know the facts that's why we're letting people know exactly what this job much sheaves so far. i would say the deficit is going maybe by one point five percent to three percent fee to send off your skills are not i would say are so i'm going to probably bartered it's gone down but i'm afraid that i am which. is good but i think that's pretty good going i think that the dumb well yes so the spectator referring to this pol
between deficit and debt the deficit of course is the annual budget deficit of the government and the national debt is built up over decades who knows how long it's been building up and how big it is here it's close to one point four trillion pounds but david cameron tells porkies about britain's national debt david cameron on i.t.v. said this quote though this government has had to make difficult decisions we're making progress we're paying down britain's debt and now we're going to cut to a...
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Feb 6, 2013
02/13
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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to have to go back to where they were under the clinton administration if we're going to pay off the deficit at some point. there is really no other way to do it without run away economic growth which we're not going to have. >> we're at a point where they have this so both sides are lined up for this battle going into may. if they propose any actual cuts in the senate on spending, i will buy you another one of those girlie drinks you have. >> all right. see, john. toby did get the last word. coming up, they were some of the biggest supporters of the health care law. but are unions starting to show buyers remorse? the cavuto on business gang on their new demand and why everyone may pay at the bottom of the hour. but up here first, nearly two-thirds of middle aged workers are doing something that someone here says could drive this number higher. whether you're young or old. this mid life headlines, or go to foxnews.com. >>> you think 7.9% unemployment is a bad number? then get a load of this. nearly two-thirds of american workers age 45 to 60 now saying they're planning on delaying retirement
to have to go back to where they were under the clinton administration if we're going to pay off the deficit at some point. there is really no other way to do it without run away economic growth which we're not going to have. >> we're at a point where they have this so both sides are lined up for this battle going into may. if they propose any actual cuts in the senate on spending, i will buy you another one of those girlie drinks you have. >> all right. see, john. toby did get the...
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02/13
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but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a good eye, what caught yours? >> one thing i saw was the revisions to last year's employment growth was such that i thought we were adding 150,000 jobs a month in 2012. i thought it was okay. turns out we're adding 180,000 jobs per month last year. so we did a bit better. over 2 million jobs on the year. now on the gdp side, most economists, don't think it will stick. i think it it volatility, i think there were unusual things that happened. in the quarter to quarter changes, it is better to look year over year. >> and do you mean what happens in a month or two we'll get t
but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a...
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front lines, you will continue to have agreed as pockets of -- and reduce -- egregious pockets of power deficit all over the world. i do not want to just bring up woman suffering in this, but global suffering stands united. i think women face a dual burden in the sense that they also work outside the home, but their work is not considered a contribution to the mainstream economy. women in pakistan work all day long. they also work inside the home. that is why we are putting especially rural and urban women who are disempowered at the bottom of the. -- of the pyramid at the heart of this strategy. >>> i want to ask you about the drones. pakistan's position is that the drone strikes are a violation of your sovreignty and international law and i think under both of those guidelines you have the right to self- defense. and further, just to guide your answer, has pakistan threatened to shoot down drones, and if not, why not? the reason i ask this is because there is an understanding that while pakistan publicly opposes the strike, privately it sort of winks. >> let me address this as most people do
front lines, you will continue to have agreed as pockets of -- and reduce -- egregious pockets of power deficit all over the world. i do not want to just bring up woman suffering in this, but global suffering stands united. i think women face a dual burden in the sense that they also work outside the home, but their work is not considered a contribution to the mainstream economy. women in pakistan work all day long. they also work inside the home. that is why we are putting especially rural and...
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Feb 9, 2013
02/13
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based on current law which showed much smaller deficits. long-term rates are higher in than we had in this country and that also reflects the higher amount of debt, federal debt relative to g.d.p. than we have had over the past several decades. >> "washington post.? -- "washington post." thinking about how we should view the budget battles over the last two years. we are stabilizing debt at a much higher level. to what extent is that a result of decisions that were made by lawmakers and to what extent that is the underlying recovery in the economy? >> both factors and we have not tried to quantify them. one can look at our projections over the past several years and basically add up each successive revision, so every time we release new budget projections, we report the revisions and we divide them into the effects of economic forecasts and changes to other technical revisions. if one stacked all those up, one can get a sense about how much the debt has changed or the deficit has changed for any given year relative to any particular path pr
based on current law which showed much smaller deficits. long-term rates are higher in than we had in this country and that also reflects the higher amount of debt, federal debt relative to g.d.p. than we have had over the past several decades. >> "washington post.? -- "washington post." thinking about how we should view the budget battles over the last two years. we are stabilizing debt at a much higher level. to what extent is that a result of decisions that were made by...
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Feb 8, 2013
02/13
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the trade balance registered a deficit of about $6 billion. exports fell 6.9% while imports were up about 0.8% from the previous year. as a result, the ministry said the current account surplus for the whole of 2012 was down for two years in a row. now u.s. stock prices ended lower. the dow jones industrial average lost nearly a third of a percent to end the day at 13,944 on thursday. that's after poor productivity data as well as comments from the ecb president which sent the euro lower. for more and for how stocks are trading here in tokyo, we are going to ramin mellagard at the tokyo stock exchange. we have had two pull-backs. are we headed for another? >> it looks like it. the drop we have seen in trade appears like that. the 2% drop in productivity for the fourth quarter in the u.s. as well as those slightly taken as negative comments from ecb president mario draghi may have more bite. we are definitely seeing that in the opening levels. let's have a look at those. 11,247. less than 1% on the nikkei. topix at 961. we had more than 400-poi
the trade balance registered a deficit of about $6 billion. exports fell 6.9% while imports were up about 0.8% from the previous year. as a result, the ministry said the current account surplus for the whole of 2012 was down for two years in a row. now u.s. stock prices ended lower. the dow jones industrial average lost nearly a third of a percent to end the day at 13,944 on thursday. that's after poor productivity data as well as comments from the ecb president which sent the euro lower. for...
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hawk yessiree or huge deficit a huge deficit how can you possibly say that enormous defense budget in which opens of a trillion dollars is going to every single year has nothing to do with our deficit or should be told you're going to do so now and in fact i thought you were spot on when you were saying earlier you know about the fact that the if that the effect that the defense spending has on the economy obviously you know we have to look. at it obviously there are things that can be cut but the idea that we don't need the capability to protect ourselves and to protect our friends is absurd and remember too and i know you want to make another point the most expensive thing is people who are irreplaceable you take a sergeant who's been in for fifteen twenty years if you take a navy seal or any of these people that we've trained and they're ready to go you can't replace them the way you can replace a tank and they're probably fifty sixty percent of our defense budget i would say that the best thing to do is not put them in a situation where we're going to have to replace that james so
hawk yessiree or huge deficit a huge deficit how can you possibly say that enormous defense budget in which opens of a trillion dollars is going to every single year has nothing to do with our deficit or should be told you're going to do so now and in fact i thought you were spot on when you were saying earlier you know about the fact that the if that the effect that the defense spending has on the economy obviously you know we have to look. at it obviously there are things that can be cut but...
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Feb 5, 2013
02/13
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to pay down the deficit. and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be finished before march 1st, and unfortunately that's the date when a series of harmful automatic cuts to job-creating investments and defense spend, also known as sequester, are scheduled to take effect. so, if congress can't act immediately on a bigger package, if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a
to pay down the deficit. and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be...
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annual deficits continue to shrink until 2017 when interest and health care costs begin increasing deficits again. in the next 10 years, cbo says the u.s. will add almost $7 trillion to the national debt. the problem mostly? entitlements? the fix? painful. >> it is possible to keep tax revenues at that time their historical average percentage of gdp but only making substantial cuts relative to current policies in the large benefit programs that aid a broad group of people. >> now on the other side elmendorf says you can keep benefits the same but you've got to raise taxes substantially. let's go to the economic forecast here. cbo expects unemployment to average 8% this year and 7.6% next year, marking six straight years above 7.5%. that is the first time that happened in 70 years. as for growth, cbo expect as sluggish economy this year and growth to pick up next year. back to you. david: rich, all of these forecasts are subject to change. i haven't seen a growth forecast that has been accurate, i think in my lifetime? >> know it's funny, we kept asking are you certain about this detail? dou
annual deficits continue to shrink until 2017 when interest and health care costs begin increasing deficits again. in the next 10 years, cbo says the u.s. will add almost $7 trillion to the national debt. the problem mostly? entitlements? the fix? painful. >> it is possible to keep tax revenues at that time their historical average percentage of gdp but only making substantial cuts relative to current policies in the large benefit programs that aid a broad group of people. >> now on...
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graduates who have access to good paying jobs would stimulate the economy who pay taxes to lower our deficit and who once again make america once again the most educated nation with the most sophisticated workforce on the planet and by the way we've done that before during the two eisenhower administration the top tax rate on billionaires was ninety one percent and an entire generation went to college for free it was called the g.i. bill and we went from six percent college rates to over twenty percent college graduate rates in a single generation it built america but what about those one hundred fifty million americans who don't have savings and one set back away from poverty. imagine if they had an extra eight grand in their bank account it wouldn't be so fearful of poverty they could spend more money in the economy and they could take more risks even the billionaires would earn more money now that they have more consumers spending more money at restaurants at shopping malls and on vacations and what would we sacrifice for this new prosperity for millions of americans we simply asked the b
graduates who have access to good paying jobs would stimulate the economy who pay taxes to lower our deficit and who once again make america once again the most educated nation with the most sophisticated workforce on the planet and by the way we've done that before during the two eisenhower administration the top tax rate on billionaires was ninety one percent and an entire generation went to college for free it was called the g.i. bill and we went from six percent college rates to over twenty...
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Feb 4, 2013
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. - 3 the steps lawmakers are takkng to reduce thh deficit and promote econooic growth.. 3 just days after news thht the economy as shrunk slightly in the fourth uarter of 2012, presidenn obama says the recovvry issshowwng signn & of growth. the president sat down with c-b-s' scott pelley forrannexccusive innerview aheaddof the superr -3 bowl.marianne rafferty hassmore. 3 ooama says: "housing is 3 going strong, car sales are uu. the truth is overall here were a lottof ositive signs eeonomy is taking a step forward, but some economisss say ii's on a slow path. -3 some say one offthe things polding up progress is folkss in washinggon. president obama is ccaling on lawmakers toowork together on a balanced approach to reduce the deficit and promote economii growth. but continued gridlock may pmpact a deal.dowd: republicans are unwilling to let's ddficit spend in order 3&&pare unwilliig to address -3 government ssending, so they -3 deficit spend, both sides, wwich iswhy the country does not rust washington. -& while thh wwite house and 3 fiscal cciff, the eal alss deferred auuomaticcspend
. - 3 the steps lawmakers are takkng to reduce thh deficit and promote econooic growth.. 3 just days after news thht the economy as shrunk slightly in the fourth uarter of 2012, presidenn obama says the recovvry issshowwng signn & of growth. the president sat down with c-b-s' scott pelley forrannexccusive innerview aheaddof the superr -3 bowl.marianne rafferty hassmore. 3 ooama says: "housing is 3 going strong, car sales are uu. the truth is overall here were a lottof ositive signs...
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trade deficit data which was at the lowest trade deficit for the u.s. since january of 2010, so that's some positive news. we also have mcdonald's importing their global sales down about 2% so that's a little bit of a drag on the dow jones industrial average. but i know the most important story of the day for you has to do with apple and its $137 billion worth of cash but it still can't protect your phone. >> no, it can't. it can't. i'm telling you. i lost another one -- went 2 1/2 feet from out of my mitten to the pavement and it's gone. >> it's like every six months for you. >> do you have a case? >> now i'm going to spend money on the case? so i have a blackberry filling in. brian, look at this. whoops. oh, i dropped it. let me see. do i have to buy a new one? look. >> and it still works? >> it still works. it's unbelievable. look. that happened. i did that to the iphone yesterday and it cracked and it turned black, and now we must replace it. >> my wife has the -- >> sam, check that, see if it works. >> the only basically indestructible case for the
trade deficit data which was at the lowest trade deficit for the u.s. since january of 2010, so that's some positive news. we also have mcdonald's importing their global sales down about 2% so that's a little bit of a drag on the dow jones industrial average. but i know the most important story of the day for you has to do with apple and its $137 billion worth of cash but it still can't protect your phone. >> no, it can't. it can't. i'm telling you. i lost another one -- went 2 1/2 feet...
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include restoring the 10 percent pay cuts they accepted to help limit layoffs during record budget deficits. leaders indicated they would support modest raises but the police officers association argues that bigger raises are needed to keep officers from leaving the department. the union has called for opening negotiations to the public. >> the boy scouts of america board could vote whether to lit a long-term policy that excludes gay members and leaders. the executive board is wrapping up three days of meetings today at the headquarters in texas. the proposal would allow individual scout troops to decide how they want to address the issue, a conservative group in texas organized a prayer vigil this morning, and the organization is expected to issue a statement either way. >> the nasdaq could pay millions over the social media company facebook's botched initial public offering. the "wall street journal" reports that nasdaq is in talks with the government to pay $5 million in penalties which is only 1 percent of the money lost by brokers and investors. last may on the only of the facebook i.p
include restoring the 10 percent pay cuts they accepted to help limit layoffs during record budget deficits. leaders indicated they would support modest raises but the police officers association argues that bigger raises are needed to keep officers from leaving the department. the union has called for opening negotiations to the public. >> the boy scouts of america board could vote whether to lit a long-term policy that excludes gay members and leaders. the executive board is wrapping up...
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Feb 4, 2013
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if we are not out of the deficit that we lost. in terms of the system being skewed, if we are continually supporting a system where jobs go to the already employed and we are really not doing anything to foster the economic recovery that is going to benefit everyone in society, none of these laws and nothing that the national employment law project is advocating for says you have to fill open jobs with unemployed people. what we are saying is that qualified unemployed people should be allowed to compete on terms that are fair. that is good for all of us in an economic recovery. host: baltimore, md., just retired, go ahead. caller: i would like to say one thing before i say my question. i love c-span and i always want to make it through on a phone call and i am glad that i made it through. that being said, and by the way -- go ravens, we won the super bowl. my question is this. i live in baltimore city. the unemployment rate in baltimore city is unbelievable. the problem that you have is that not only are so many people unemployed,
if we are not out of the deficit that we lost. in terms of the system being skewed, if we are continually supporting a system where jobs go to the already employed and we are really not doing anything to foster the economic recovery that is going to benefit everyone in society, none of these laws and nothing that the national employment law project is advocating for says you have to fill open jobs with unemployed people. what we are saying is that qualified unemployed people should be allowed...
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that shortfall is called the deficit. when you add together all the annual deficits and the interest on them, you get the national debt. today that stands at $16.4 trillion and a whole lot of change. that comes out to $52,000 for every american man, woman, and child. economists agree the best way to bring down that number is to grow the economy. that means more tax revenue coming in and fewer people relying on the social safety net. new numbers show the economy isn't growing. the economy is shrinking. america's gdp fell by an annual rate of 0.1% in the last quarter of last year. the last time that hand was during the recession. economics professor and unapologetic liberal paul krugman says the u.s. needs to wait for economic growth come back before even thinking about spending cuts. >> the power of the household analogy is very strong. remember, we all -- the liberal leeng congress made fun of boehner when he said families have to tighten their belts, the government does, too. that's stupid. three months later, obama was
that shortfall is called the deficit. when you add together all the annual deficits and the interest on them, you get the national debt. today that stands at $16.4 trillion and a whole lot of change. that comes out to $52,000 for every american man, woman, and child. economists agree the best way to bring down that number is to grow the economy. that means more tax revenue coming in and fewer people relying on the social safety net. new numbers show the economy isn't growing. the economy is...
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Feb 5, 2013
02/13
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saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and deficits will be larger, the cbo says, if current laws were modified and rising health care cost and increased federal health care subsidies, spending cuts and higher taxes with offset deficit increases long-term says the cbo. over and over again this report talks about those short-term budget decisions on the horizon including march 1st, the automatic spending reductions, sequester. what does congress and the white house do about the expiring continuing resolution in late march, funding for the operations of government and, divorce, the next round of the debt limit debate due to h
saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and...
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Feb 8, 2013
02/13
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already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to the situation which we find ourselves today? it's a standing that member states are opposing something on the one hand, they are asking to strengthen our economic governance with a sixpack and with a sixpack and a two pack, and they're asking us to stop running deficits. but they want us to learn these bad habits all over again. we've got 960 billion commitments, and the same amount of payment. any direction of a company will tell you that's economic suicide, and it is too simple, mr. president, and you shouldn't hide behind david cameron. you are faced with
already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to...
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Feb 2, 2013
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but midway through that cut that back and went back to spending cuts and deficit reductions. critics say basically if they would have left it alone, if they would have left the economy alone it would have righted its own ship. the massive government spending of world war ii, that sucked a lot of people back into labor market at a terrible humanitarian cost got the economy back running. host: there have been some folks, part of the administration, part of the democrats that say infusing money and coming up with these stimulus projects will help get the economy going. is this a similar situation to what f.d.r. tried to do coming out of the great depression? guest: threrp definitely parallels between the stimulus law of 2009 and what f.d.r. wanted to do. one major difference was where the stimulus sort of relied on the private sector. they had is civilian conservation core. this time they've tried to put money into contracts that private firms will get and then hopefully hire private workers. i think the thing about the stimulus is i bet 80 years from now we'll be debating how e
but midway through that cut that back and went back to spending cuts and deficit reductions. critics say basically if they would have left it alone, if they would have left the economy alone it would have righted its own ship. the massive government spending of world war ii, that sucked a lot of people back into labor market at a terrible humanitarian cost got the economy back running. host: there have been some folks, part of the administration, part of the democrats that say infusing money...
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Feb 6, 2013
02/13
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we all want to fix the deficit problem. there is no question about it. but i think when they look at this bill and understand what we are really facing, i do not believe that we will have a problem there. >> [inaudible question] [talking over each other] >> it is different great obviously, we have two different versions. the house has this attrition of the workforce that has been the component and we had a combination for every new positions, we had one and then two, and we can bind both so we are on the same page. the house proposal on the attrition and we have also added congressional papers on it as well for the civilian workforce. >> [inaudible question] >> i would certainly defer to others here and the chairman. there is a real urgency here. one of the reasons that the president and his administration during his campaign, they didn't actually want the law that requires you to notify workers that they may be laid off, essentially the department of labor says the defense employers didn't have to comply with that law, it's because they knew that once t
we all want to fix the deficit problem. there is no question about it. but i think when they look at this bill and understand what we are really facing, i do not believe that we will have a problem there. >> [inaudible question] [talking over each other] >> it is different great obviously, we have two different versions. the house has this attrition of the workforce that has been the component and we had a combination for every new positions, we had one and then two, and we can bind...
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>> i think our deficit will good up. that's going to cut a big hole in our economy so tax revenues will dry up. i think our economy is very delicate right now. businesses are tired of the uncertainty. if the president keeps talking tax increases, i'm worried about what that that will de. >> the president elect of the heritage foundation. >> with the nation's debt mounting, new fears america's credit rate could go be slashed again. and now this. attorney general eric holder announcing a lawsuit against standard & poors. the suit, which seeks $5 billion in damages, claims s&p's high rating on risky mortgage investments brought the financial system to the brink of collapse. why just s&p? why not other rating agencies? no. it is just s&p. the same firm that had the temerity to downgrade our debt. critics crying foul, claiming the move is nothing more than political retallation. is it? we're on it with fox news legal analyst mercedes and fox business net wish are melissa mercedes, you first. do you think this is political pay
>> i think our deficit will good up. that's going to cut a big hole in our economy so tax revenues will dry up. i think our economy is very delicate right now. businesses are tired of the uncertainty. if the president keeps talking tax increases, i'm worried about what that that will de. >> the president elect of the heritage foundation. >> with the nation's debt mounting, new fears america's credit rate could go be slashed again. and now this. attorney general eric holder...
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i think for republicans they can't be the party of bob dole caring only about the deficit. they have to care about practical -- the reason you're so upset is you know it was a good speech. >> he went over to the aei, the number one war center, ths totally neocon. your thoughts. this is hopeless. i thought he'd admit the truth here today. >> it was pa joring to hear some of that -- >> hasn't he been the guy standing behind boehner's back waiting to trip him over because he's been too moderate. >> no question. he's been standing off center stage waiting for his opportunity to become speaker. i thought that there was a lot of practicality in the speech but not any big ideas. i think -- >> it was like sundries and knowings in a drugstore. little items, like telling colleges they got to tell people what employment prospects there are for english majors. what's that about? cantor -- let's take a look. he took a approach that the university education should be more like a vocational school, a school you can learn a trade. he suggested kids be told by colleges what major earn the m
i think for republicans they can't be the party of bob dole caring only about the deficit. they have to care about practical -- the reason you're so upset is you know it was a good speech. >> he went over to the aei, the number one war center, ths totally neocon. your thoughts. this is hopeless. i thought he'd admit the truth here today. >> it was pa joring to hear some of that -- >> hasn't he been the guy standing behind boehner's back waiting to trip him over because he's...
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Feb 9, 2013
02/13
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the final minute, the deficit down to 5 and smith misses in the lane. the battle for the rebound and tipping it in finally. the colonials full -- pull to within 3. the one-possession game and under a minute to g. four seconds left, gw down 3. the inbound bound to joe mcdonald and loses the ball. appears to be fouled and kroma unable to get the shot off and lonagan want wants the fall and doesn't get the foul and falls to 14th-rank butler, 59-56. >>> and hughet and george mason hosting the delaware blue hens in fairfax and starting in the first half. the patriots trailing by 5. allen gives to okalosha hitting the 3-pointer, the deficit down to two and that is as close as george mason gets. the second half, mason down 6 and jonathan arledge misses from the stop and there is no luck with the rebound. and ahead to -- forward with the dunk and falls to delaware, 79-72. >>> the tech square off today and the hokies, they would miss the first 10 shots. yes, i said that and scoring the first, seven minutes into the game. eric green down the lane, heaven -3, geor
the final minute, the deficit down to 5 and smith misses in the lane. the battle for the rebound and tipping it in finally. the colonials full -- pull to within 3. the one-possession game and under a minute to g. four seconds left, gw down 3. the inbound bound to joe mcdonald and loses the ball. appears to be fouled and kroma unable to get the shot off and lonagan want wants the fall and doesn't get the foul and falls to 14th-rank butler, 59-56. >>> and hughet and george mason hosting...
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our deficit is a big problem. what about ourbo taxation syste? when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, he's given us a system. it's called tithe. >> he didn't stopme there becaue carson is head of neurosurgery at john hopkins. listen to his anecdote for obamacare. >> here is my solution. when the person is born, give him a birth certificate, electronic medical record and a health savings account. to which money can be contributed,n pretaxed, from tx time you're born to the time yot die. when you die, you can pass it on to your family members so that when you're 85 years old and you got six diseases, you're nots, trying to spend up everything. you're happy to pass it on and there is nobody talking about death panels. >> rush limbaugh said republicans could learn a thing or two from the good doctor. >> guy comes along in 43 seconds and sets43 out a position basedn out principles of individualvi responsibility and free market that is a logical solution that makes total sense to everybody who h
our deficit is a big problem. what about ourbo taxation syste? when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, he's given us a system. it's called tithe. >> he didn't stopme there becaue carson is head of neurosurgery at john hopkins. listen to his anecdote for obamacare. >> here is my solution. when the person is born, give him a birth certificate, electronic medical record and a health savings account. to which money can be...
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the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in context of the history of this president and fiscal issues. does not pose for the budget. the senate has not passed one commend the president of the united states said this back in 2011. november 41st. already, he said, some in congress are trying to undo these automatic spending cuts, much like he did today at 115 eastern time. my message to them back in 2011, no, i will be there through any effort to get rid of automatic spending cuts to domestic and defense spending said the break president at that point. your reaction? >> that was president obama circa 2011. candid obama in a debate set s
the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in...
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Feb 8, 2013
02/13
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in many ways between the fed and the deficit spending on the deficit level, even though it's going to be smaller this year, it's hard to beat, that so i think the sequester, where we really demonstrate that the growth in many ways is paid for because when you stop it's going to take away jobs, those kind of black reality swans will be the issue for the market ahead. >> brian gendron, where are you on this and how do you want to be invested? >> we don't think this rally is over entirely. if you extrapolate a 5% or 6% return we've had so far this year, we'll have one of the greatest stock markets of all time in the face of, you know, good earnings but not great earnings, in the face of still slow growth. i think that's a little unrealistic so we'll probably get a little bit of a pullback, unusual if we didn't. still recommending a substantial allocation to equities. this year looks like last year, political uncertainty. last year was a good year for stocks. as for stocks versus bonds, i've been thinking it was the end of a 30-year bull market in bonds for the past three years. by the sa
in many ways between the fed and the deficit spending on the deficit level, even though it's going to be smaller this year, it's hard to beat, that so i think the sequester, where we really demonstrate that the growth in many ways is paid for because when you stop it's going to take away jobs, those kind of black reality swans will be the issue for the market ahead. >> brian gendron, where are you on this and how do you want to be invested? >> we don't think this rally is over...
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Feb 6, 2013
02/13
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it is protected and accumulated $745 billion budget deficit within the next 10 years. after adding in infrastructure needs and retiree obligation, the deficit soars to $2 billion. even if the city use the reserve fund, it would be empty in three years. we will have the mayor's response tonight at 11:00 -- tonight at 5:00 and 6:00. a scenario that is starting to feel too much like a broken record for americans. a deadline will trigger a one trillion dollars in spending cuts over the next 10 years. what this means for regular folks. >> here is what it boils down to, basically. if huge automatic spending cuts kicks in and the economy slows down, all of us will feel the impact. nearly everyone on both sides in washington would like to avoid that, the question is, how? another day, another dollar, another fiscal fight in washington. the issue now, massive spending cuts. it is called sequestration and we were not supposed to get to this point in the first place. >> this was never intended to happen, it was a proposal that was meant to spur lawmakers into action to come up wi
it is protected and accumulated $745 billion budget deficit within the next 10 years. after adding in infrastructure needs and retiree obligation, the deficit soars to $2 billion. even if the city use the reserve fund, it would be empty in three years. we will have the mayor's response tonight at 11:00 -- tonight at 5:00 and 6:00. a scenario that is starting to feel too much like a broken record for americans. a deadline will trigger a one trillion dollars in spending cuts over the next 10...
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Feb 6, 2013
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his party, focusing on issues like education and health care and spend less time talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the national council for a new america that didn't work. a year later, cantor was back at it. he was one of the young guns ready to take the republican party by storm. >> there is a better way, and a new team is ready to bring america back. eric cantor, kevin mccarthy, paul ryan joined by common-sense conservative candidates from across the country. together, they are ready to make history. together they are the young guns. >> the good old days. in 2011, cantor launched the you cut program. he wanted to get the public to vote on weekly cuts to federal government. another year, another failure. so today cantor launc
his party, focusing on issues like education and health care and spend less time talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the...